Capitalism: A Love Story

Capitalism: A Love Story 2009

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Plot Summary


The film presents a compelling exploration of America’s socioeconomic landscape, intertwining biting social critiques with real-life accounts of those grappling with the fallout from the recent economic crisis. It opens with security footage of bank robberies, set to the tune of “Louie, Louie,” capturing the chaotic spirit of desperation. A juxtaposition is quickly made through an Encyclopedia Britannica archive video, allowing audiences to compare contemporary America with the fallen grandeur of the Roman Empire.

As the narrative unfolds, the audience is presented with poignant home videos depicting families facing eviction, alongside a glimpse into the world of the “Condo Vultures,” a Florida real estate agent who thrived amidst a backdrop of foreclosures. This transition leads to a reflection on a nostalgic era often depicted as the “golden days” of American capitalism post-World War II.

A significant moment occurs when the film showcases an excerpt from President Jimmy Carter’s “Malaise” speech, wherein he warns the nation about a looming “crisis of confidence.” As it progresses, we see the shift during the Reagan years in the 1980s; policies initiated by Don Regan dismantled many safeguards, allowing corporations to gain unprecedented clout while unions dwindled, and socioeconomic disparities widened.

The documentary dives into the Luzerne County court scandal, alongside powerful testimonies like that of Captain Sullenberger, who sheds light on the dismal treatment of airline pilots. It also highlights the disturbing revelation of “dead peasant insurance” policies that enabled companies to profit from employee deaths.

In a notable segment, Michael Moore engages with several Catholic priests, including Bishop Thomas Gumbleton, who voice their concerns regarding capitalism’s discord with Christianity’s teachings. He presents a satirical hypothetical in which Jesus, as a capitalist, would focus on “maximizing profits” and enforcing pay-for-service healthcare, juxtaposed against pundits who celebrate capitalist endeavors as divine blessings.

A leaked Citigroup memo emphasizes the stark reality of wealth concentration, revealing that the top 1% commands more financial resources than the bottom 95% combined. This alarming statistic raises questions about societal disparities and elicits commentary from Stephen Moore of the Wall Street Journal, who controversially claims that “capitalism is a lot more important than democracy.”

The film also ventures into alternative economic models like co-determination worker cooperatives, showcasing that democracy can thrive within business frameworks, challenging the conventional capitalist narrative.

Moore draws on Dr. Jonas Salk’s legacy, noting how he selflessly chose public good over profit. This prompts a profound question regarding the current generation’s draw towards high finance rather than scientific innovation. In his exploration, Moore makes an earnest attempt to decode Wall Street’s derivatives and credit default swaps but is met with vague explanations and cryptic responses, reinforcing his belief that the complexities serve only to obfuscate and allow wrongdoing.

The portrayal of Alan Greenspan and the U.S. Treasury’s pivotal roles leading to the housing bubble signals pivotal shifts in the American economic landscape. With first-hand accounts from a former employee at Countrywide Financial, the film uncovers how favorable mortgage programs benefited many Washington elites.

Discussions with William Black illuminate the precarious position of the economy, likening it to a dam on the verge of collapse. The series of events that led to the controversial 2008 bailout, championed by Hank Paulson, is meticulously laid out. As Moore engages members of Congress—most notably Marcy Kaptur, who frames the bailout as a “financial coup d’état”—the intensity of the situation becomes markedly pronounced.

A gripping moment occurs during Moore’s exchange with Elizabeth Warren, wherein he queries, “Where’s our money?” referring to the substantial bailout funds. Warren’s chilling response of “I don’t know,” follows a suspenseful pause that accentuates the level of accountability sought.

The film captures the excitement leading to the 2008 U.S. elections, contrasting the rhetoric of capitalism versus socialism as part of a broader political maneuver. Hope is momentarily found in Barack Obama’s potential to course-correct the nation. In a striking contrast, archival footage of Franklin D. Roosevelt advocating for a Second Bill of Rights powerfully underscores what could be in contrast to present-day policies.

Moore articulates his own spiritual conflict as a Catholic, pondering whether Jesus would engage in hedge funds or short selling. His conclusion burgeons from a deeper revelation, positing that one cannot claim both capitalism and Christianity without a fundamental contradiction in values.

Amidst the film’s heavier themes, we see bright spots represented by individuals like Elizabeth Warren, Warren Evans, and Marcy Kaptur, who advocate for responsible governance and community support. The conclusion sees Moore symbolically encircling banks with police lines, as he asserts that capitalism is an evil that must be supplanted by a just democratic system, beseeching like-minded individuals to “speed it up,” a nod to a past presidential exhortation.

Timeline


Opening Security Footage

The film opens with gripping security footage of bank robberies, underscoring the chaotic spirit of desperation that characterizes America post-economic crisis. This unsettling visual experience is accompanied by the tune of 'Louie, Louie,' setting a poignant tone for the narrative that follows.

Juxtaposition with Roman Empire

An Encyclopedia Britannica archive video is presented, contrasting contemporary America with the fallen grandeur of the Roman Empire. This historical comparison frames the narrative, highlighting the decline in American prosperity and societal structures.

Home Videos of Evictions

The audience is shown poignant home videos depicting families facing eviction as a consequence of the economic downturn. These personal stories resonate deeply, displaying the human cost of financial crises amidst a landscape of foreclosures.

Condo Vultures Emergence

Attention shifts to the world of 'Condos Vultures', focusing on a Florida real estate agent who flourishes amid economic despair. This segment provides a critical lens through which to view those who exploit the vulnerabilities of others during financial turmoil.

Florida

Jimmy Carter's 'Malaise' Speech

A significant excerpt from President Jimmy Carter's 'Malaise' speech is featured, where he addresses the nation about a looming crisis of confidence. This moment serves as a historical warning that resonates throughout the film, echoing the sentiments of doubt and uncertainty.

Reagan Era Policies

The film delves into the transformative policies of the Reagan years in the 1980s, led by Don Regan, dismantling safeguards that had been established to protect the economy. The consequences of these changes are starkly presented, showing the rise of corporate power and a widening gap in socioeconomic status.

Luzerne County Court Scandal

The documentary explores the Luzerne County court scandal, shedding light on systemic corruption within the judicial system. This scandal highlights the perils of unchecked authority and the interplay between legal and financial inequities.

Luzerne County

Dead Peasant Insurance Policy

A disturbing revelation comes to light regarding 'dead peasant insurance' policies that enabled companies to profit from the deaths of their employees. This shocking practice underscores the moral ramifications of capitalism.

Engagement with Catholic Priests

Michael Moore conducts interviews with several Catholic priests, including Bishop Thomas Gumbleton, discussing capitalism's conflict with the core teachings of Christianity. The satirical portrayal of Jesus as a capitalist challenges conventional narratives around faith and morality.

Leaked Citigroup Memo

A leaked Citigroup memo reveals troubling statistics about wealth concentration, indicating the top 1% holds more financial assets than the bottom 95%. This revelation sparks discussions around societal disparities and the implications for democracy.

Exploration of Worker Cooperatives

The film investigates alternative economic models like co-determination worker cooperatives, advocating for democratic practices within business structures. This exploration serves as a counterpoint to traditional capitalist frameworks, urging a reevaluation of economic systems.

Wall Street Complexities

Moore attempts to unpack the complexities of Wall Street's financial instruments, such as derivatives and credit default swaps. His discussions with financial insiders reveal a deliberate obfuscation of information, allowing for continued exploitation under the guise of financial innovation.

Housing Bubble and Bailout

The film spotlights the roles of Alan Greenspan and the U.S. Treasury in fostering the housing bubble that culminated in the 2008 financial crisis. Insightful interviews with politicians and industry insiders detail the controversial bailout process, revealing its implications for the average citizen.

2008

Elizabeth Warren's Inquiry

A gripping encounter occurs when Moore questions Elizabeth Warren about the whereabouts of bailout funds. Warren's uncertain response highlights the broader issues of accountability and transparency in the government's financial dealings.

Call for Change and Conclusion

The film concludes with Moore symbolically encircling banks with police lines, encapsulating his viewpoint that capitalism is an evil that requires a just democratic solution. This bold stance serves as a rallying cry for those who resonate with the film's critiques, urging action and reform.

Characters


Michael Moore

Michael Moore serves as the narrator and central figure in the documentary, raising critical questions about the intersections of capitalism, society, and morality. His approach blends humor with poignant critiques, encouraging audiences to reflect on their beliefs. Throughout the film, he bravely confronts inconsistent narratives and challenges individuals in power.

🧔 Filmmaker 🎥 Documentary Maker 📢 Activist

Elizabeth Warren

Elizabeth Warren is portrayed as a passionate advocate for economic justice, challenging the current system and demanding accountability in finance. Her engagement with Moore highlights the frustrations and uncertainties surrounding government bailouts, representing a call for transparency and change in financial practices. Warren's character showcases the struggle for equitable governance amid systemic challenges.

👩‍⚖️ Politician 💬 Advocate 🎤 Speaker

Marcy Kaptur

Marcy Kaptur is a prominent political figure in the film, framing the financial crisis as a drastic failure of governance. Her assertive stance during discussions signifies the urgency for reform and protects local communities. Kaptur's insights provide a critical lens on the intertwining of economics and politics.

👩 Politician 🏛️ Legislator 💼 Reformist

Bishop Thomas Gumbleton

Bishop Thomas Gumbleton voices concerns about capitalism's compatibility with Christian teachings in a thought-provoking segment. His character illustrates the moral and ethical dilemmas posed by profit-driven ideologies, amplifying the film's critique of contemporary economic practices that may contradict religious values.

⛪ Clergy 📖 Theologian 💡 Advocate

Setting


Time period

Post-World War II, 1980s, 2008

The documentary examines various time periods, notably the post-World War II era, recognized as a period of prosperity and growth in American capitalism. The 1980s, marked by the Reagan administration's policy changes, saw a shift towards increased corporate power and diminishing union influence. The events of 2008 serve as a focal point, highlighting the economic crisis and governmental responses that shaped contemporary discussions about capitalism.

Location

America, Luzerne County, Florida

The film predominantly takes place in America, showcasing its socioeconomic landscape shaped by capitalism. Luzerne County is highlighted in the context of a court scandal that reflects broader issues in the justice system and economy. Florida is presented through the lens of real estate amidst economic turmoil, serving as an example of the fallout from the foreclosure crisis.

🇺🇸 America 🏛️ Luzerne County 🏙️ Florida

Themes


💰

Capitalism

The film critiques capitalism by focusing on economic disparities and the fallout from the 2008 financial crisis. It highlights how capitalism can lead to ethical dilemmas, as individuals and families suffer while corporations thrive. Moore questions whether capitalism can coexist with core values of community and social responsibility.

⚖️

Justice

Justice is a recurring theme, showcased through the Luzerne County court scandal and discussions around corporate malfeasance. The film emphasizes the importance of accountability within the economic system, pushing viewers to consider the implications of promoting profit over people. The narratives of individuals fighting for justice amplify this theme.

🏛️

Politics

Political maneuvering plays a significant role, as the film juxtaposes capitalism with the potential for socialist policies. Engaging with political figures and historic references, Moore explores how different policies and political rhetoric shape public perception of economic systems. The documentary ultimately advocates for responsible governance in contrast to corporate interests.

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